Latest news with #WorthCharting
CNBC
23-05-2025
- Business
- CNBC
Charts indicate this beaten-down beverage stock is rebounding, headed $10 higher, says Carter Worth
(Check out Carter's for actionable recommendations and live nightly videos.) The encouraging recent price action in beaten-down beverage company Celsius Holdings (CELH) is important and bullish, by our work. Some would characterize the current CELH circumstance as a stock that's basing — and so it is. Others would characterize the current CELH circumstance as a rounding bottom — and so it is. As long-time readers will know, the nomenclature of Worth Charting characterizes the current set-up in a stock like CELH as a " bearish-to-bullish" reversal BUY. The two identical charts below show a heretofore bearish stock in an established downtrend that's reversed... and now is in the early stages of a new uptrend. We're buyers here... Price objective is $46 +/-. DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
Forbes
07-04-2025
- Business
- Forbes
5 Charts Show The S&P 500 Falling To 4,850
As we all know the markets took a beating last week, driven by President Trump's tariffs announcement and retaliation by China. The S&P 500 fell by 10.5%, the Nasdaq by 11.4% and the Dow by 8.1% over two days. From Michael O'Rourke at Jones Trading (no relation), 'The S&P 500 sell-off Thursday and Friday is among the worst two-day declines for the benchmark index in history. The move is only surpassed by the 1987 crash, the pandemic, and one of the many sharp declines during the Global Financial Crisis. In each of those instances, the S&P 500 continued to experience outsized volatility, but it did bounce notably over the next two weeks. The pandemic was the only 'V' bottom among the episodes.' The biggest question is, 'Has the market reached a low or will the sell-off continue?' Based on the futures market Sunday evening it looks like Monday could be another brutal day. One way to try and determine the answer is to look at chart patterns. Carter Braxton Worth of Worth Charting published a report on Wednesday last week after the close when the S&P 500 closed at 5,671 that showed how the Index could fall to 4,850, or 14.5% for a total decline of 21.25% from the Index's high water mark. His first chart is a 10-year weekly bar chart that showed an unfilled gap at 4,842. S&P 500 unfilled gaps On Friday Worth published another report with multiple charts showing a decline to approximately 4,850+/-. This chart compared the current S&P decline if it were to fall to 4,842, down 21.25%, to the Covid low in early 2020 of negative 35.4% and the 2022 bear market decline of 27.55%. S&P 500 chart with selloff lows The third chart was a bull market channel from 2022 to 2025 that showed the Index had broken above the upper band and had recently pulled back. The lower channel price was also at 4,842. S&P 500 chart with Bull Market Channel The fourth chart shows the peak of the 2021 bull market would intersect the market falling to 4,842 also. S&P 500 2021 peak support level Worth then combined two of the previous charts with an updated S&P 500 price that shows a rising line along with the 2021 bull market high. S&P 500 chart with rising lows and 2021 price peak intersection He mentioned in his nightly video that even though there are multiple charts showing the S&P 500 falling to 4,842 it is not a certainty that it will. Or that if it does hit that level that it would stop there. With the fundamental change in trade policy that President Trump is pursuing, it feels like this time is comparable to Global Financial Crisis where the S&P 500 Index lost 56.8% of its value from 1,565.15 on October 9, 2007, to 676.63 on March 9, 2009.
